MetLife Unit Settles Late Trading Charges With SEC

Law360 (August 9, 2007, 12:00 AM EDT) -- MetLife Inc. subsidiary General American Life Insurance Co., agreed on Thursday to hand over $3.3 million to the U.S. Securities and Exchange Commission to settle charges related to late trading of mutual funds.

William C. Thater, a former senior vice president at the St. Louis, Mo.-based insurance company, has also agreed to pay $163,137 as part of an agreement to put to rest allegations that he gave one New York family exclusive late trading rights to mutual funds underlying one of General American's variable insurance products....